Deductibility - Meaning, Definition & English Examples
Deductibility refers to the ability to subtract certain expenses or costs from taxable income, reducing the amount of tax owed. It is commonly used in tax and financial contexts.
Definition:
The quality of being able to be subtracted, especially from taxable income.
Synonyms:
allowance, exemption, subtraction
Part of Speech:
noun
Antonyms:
non-deductibility, inclusion
Common Collocations:
tax deductibility, full deductibility, partial deductibility
Derivatives:
deductible, deductibly
Usage Tips:
Use 'deductibility' when referring to expenses that reduce taxable income under tax laws.
Common Phrases:
tax deductibility limits, maximize deductibility, verify deductibility
Etymology:
Derived from Latin 'deducere' (to lead down or subtract) + '-bility' (suffix forming nouns).
Examples:
- 1. The charity donation has full deductibility this year.
- 2. Check the deductibility of your medical expenses before filing taxes.
- 3. Business travel costs often have high deductibility for freelancers.
- 4. The new law limits the deductibility of mortgage interest.